Salary Deferral Agreement between Octus, Inc. and Christian Soderquist (August 10, 2009)

Summary

Octus, Inc. and Officer Christian Soderquist have agreed to defer some or all of Soderquist's base salary, as determined by the company's board of directors, due to the company's financial situation. The deferred salary will be paid once the board determines the company has enough cash, but all deferred amounts for 2009 must be paid by March 15, 2010. This agreement modifies the original employment agreement dated February 24, 2009.

EX-10.6 8 ex_10-6.htm SALARY AGREEMENT, ECKER ex_10-6.htm


Exhibit 10.6
 
 
August 10, 2009


Octus, Inc.
803 Second Street, Suite 303
Davis, CA 95616
Attention: Board of Directors


Dear Ladies/Gentlemen:

This letter will memorialize and confirm the agreement of Octus, Inc. (the “Company”) and the undersigned (“Officer”) relating to the employment agreement dated February 24, 2009, between the Company and Officer (the “Employment Agreement”).  The Employment Agreement provides that Officer will receive compensation at a base salary rate set forth in the Employment Agreement.  In consideration of the Company’s current state of operations and cash position, the Company and Officer have agreed that some or all (with the amount determined by the board of directors of the Company, with Officer not participating in such decision) of the base compensation amounts payable to Officer pursuant to the Employment Agreement will be deferred [until such time as the Company, in the good faith judgment of the board of directors (with Officer not participating in such decision), has sufficient cash resources (in light of its other obligations and commitments) to pay the deferred amounts.  In all events, however, any deferred amounts with respect to the 2009 year will be paid no later than March 15, 2010.

Very truly yours,

OCTUS, INC.
         
By: /s/ George Ecker
   
 
 
George Ecker
Its: Chief Financial Officer
   
 
 

 
OFFICER
         
/s/ Christian Soderquist
   
 
 
Christian Soderquist